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Automotive News Headlines - Yahoo! News

Automotive News Headlines - Yahoo! News
  • Continental AG CEO says Audi recall no threat to guidance

    Degenhart, CEO of Germany's Continental AG speaks during the 'International CAR Symposium' in BochumMUNICH (Reuters) - Continental said a fault with airbags installed at premium sportscar maker Audi could cost a double-digit million euro amount to fix, a sum which the German automotive supplier could absorb without revising its earnings guidance. Earlier this month Audi said it was recalling 850,000 cars worldwide, because potentially faulty software may prevent airbags on its A4 model from deploying. "We are the supplier of the system", Continental's Chief Executive Elmar Degenhart told journalists in Munich on Thursday evening, in remarks which were embargoed for Friday. ...

  • U.S. lawmakers seek independent review of auto regulator
    WASHINGTON (Reuters) - U.S. lawmakers on Wednesday called for an independent review of the leading auto safety regulator and a report on whether it can do more to manage product recalls and detect deadly flaws. The National Highway Traffic Safety Administration, the main watchdog for car design dangers, has come under scrutiny over its handling of recent alerts like air bags that can deploy with deadly force. "To what extent has NHTSA successfully adapted to new developments in automotive technology?" reads the request to the Government Accountability Office, an investigative arm of Congress. ...

  • Ally Financial profit jumps on fewer expected loan losses

    Ally Financial sign is seen on a building in Charlotte, North CarolinaBy Peter Rudegeair NEW YORK (Reuters) - Ally Financial Inc , the second largest U.S. auto lender, posted a third-quarter profit on Wednesday as it set aside less money to cover future car loan defaults. The bank believes its loan losses will be lower in the future because U.S. unemployment has been falling fast, and Ally has in recent months attracted a greater number of borrowers with higher credit scores, finance chief Chris Halmy said on a conference call. ...

  • Obama administration eyes leadership change at auto safety agency: source

    Acting NHTSA administrator David Friedman explains that General Motors will agree to a record fine of $35 million in civil penalties in WashingtonWASHINGTON (Reuters) - The acting chief of the NHTSA, the top U.S. automotive safety regulator, is unlikely to be nominated for the job and an active search is under way to fill the position, a source familiar with the matter said on Monday. After a series of perceived failures at the National Highway Traffic Safety Administration, David Friedman, who has served this year as acting head of the agency, is not expected to be tapped by the Obama administration for the job, the source said. ...

  • 4 more workers allege racial bias at Daimler plant
    PORTLAND, Ore. (AP) — Oregon expanded its investigation into discrimination at the Portland truck-making plant of German automotive giant Daimler AG after four more employees came forward with allegations of racial harassment.

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